Concrete Pumping (NASDAQ:BBCP) Shares Gap Up – What’s Next?

Shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) gapped up before the market opened on Friday . The stock had previously closed at $7.98, but opened at $11.31. Concrete Pumping shares last traded at $11.4080, with a volume of 1,253,923 shares traded.

Wall Street Analyst Weigh In

BBCP has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Concrete Pumping in a research note on Friday, April 10th. Wall Street Zen downgraded shares of Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Robert W. Baird raised their target price on shares of Concrete Pumping from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.25.

Concrete Pumping Stock Up 42.7%

The stock has a market capitalization of $575.32 million, a price-to-earnings ratio of 128.28 and a beta of 0.94. The firm’s fifty day moving average is $7.53 and its 200-day moving average is $6.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.82.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million. Concrete Pumping had a return on equity of 2.50% and a net margin of 1.65%. On average, sell-side analysts predict that Concrete Pumping Holdings, Inc. will post 0.12 earnings per share for the current year.

Institutional Trading of Concrete Pumping

A number of large investors have recently modified their holdings of BBCP. BNP Paribas Financial Markets increased its holdings in shares of Concrete Pumping by 97.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after acquiring an additional 2,187 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Concrete Pumping in the 1st quarter worth about $54,000. Strs Ohio acquired a new stake in shares of Concrete Pumping in the 1st quarter worth about $62,000. Verition Fund Management LLC acquired a new stake in shares of Concrete Pumping in the 4th quarter worth about $69,000. Finally, OakTrust Wealth Advisors LLC acquired a new stake in shares of Concrete Pumping in the 4th quarter worth about $71,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

About Concrete Pumping

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.